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steadier, and it looks at this point asif u.s. exporters are doing a little better and u.s. producers are driving out some of our imports so that was good news, more econic groh. tracy: hard to tell, though, because everything's overshadowed by the fiscal cliff. do you worry, like, inflation is going to come and bite us in the butt one of these days? i mean, there's a lot of moy out there. >> well, i watch that very, very carefully, and i don't think that's an immediate risk. in regard to the fiscal cliff, i think the right thing to do is to let the tax rates go up across the board, just like they agreed to do. i think we ought to have middle income americans as well as high income americans having a reduction of those tax rate cuts we saw. tracy: take more from my paycheck, let the fed put money into the system. does it make sense at the end of the day? shouldn't i keep my money, g out there and spend it and let the fed keep theirs? >> well, that's, you got a good point, and i agree that instabilit and monetary policy is not very effective, and so i' not looking for very much from th
, the value offthe dollar held steadier, and it looks at this point as if u.s. exporters are doing a little better and u.s. producers are driving out some of our imports so that was good news, more economic growth. tracy: hard to tell, though, because everything's overshadowed by the fiscal cliff. do you worry, like, inflation is going to come and bite us in the butt one of these days? i mean, there's a lot of money out there. >> well, i watch that very, very carefully, and i don't think that's an immediate risk. in regard to the fiscal cliff, i think the right thing to do is to let the tax rates go up across the board, just like they agreed to do. i think we ought to have middle income americans as well as high income americans having a reduction of those tax rate cuts we saw. tracy: take more from my paycheck, let the fed put money into the system. does it make sense at the end of the day? shouldn't i keep my money, get out there and spend it and let the fed keep theirs? >> well, that's, you got a good point, and i agree that instability and monetary policy is not very effective, and so i
are growing in number. take a look at this. in the u.s. there are 100 groups. u.k., 200. europe, 500. what is going on? >> this is part of a growing global backlash against the wind industry. this is very successful rtraying itself as green. we produce green energy, green lech i very, reduce co2 emissions. when you look at countries around the world, australia, new zealand, huge backlash in ontio, we're seeing backlash against the large wind projects going in all over the place. gerri: talk about new york. you have an interesting example there. >> just last month lawyers here in new york filed lawsuits, 60 residents in herkimer county just north of albany, they filed a lawsuit saying these project, wind turbines, built within 1000 feet or so of residences are emitting all the noise, keeping them up at night, diminishing property values and they filed suit. i think it is indicative of the backlash. gerr this is interesting. you say this is the first time it will be heard in court of law, the issue about the sound. >> in the u.s., yes. gerri: seems to me that is pollution. >> sure it is. tha
. take a look at this. in the u.s. there are 100 groups. u.k., 200. europe, 500. what is going on? >> this is part of a growing global backlash against the wind industry. this is very successful portraying itself as green. we produce green energy, green lech i very, reduce co2 emissions. when you look at countries around the world, australia, new zealand, huge backlash in ontario, we're seeing backlash against the large wind projects going in all over the place. gerri: talk about new york. you have an interesting example there. >> just last month lawyers here in new york filed lawsuits, 60 residents in herkimer county, just north of albany, they filed a lawsuit saying these project, wind turbines, built within 1000 feet or so of residences are emitting all the noise, keeping them up at night, diminishing property values and they filed suit. i think it is indicative of the backlash. gerri: this is interesting. you say this is the first time it will be heard in court of law, the issue about the sound. >> in the u.s., yes. gerri: seems to me that is pollution. >> sure it is. that is
left to stop the u.s. from going over the fiscal cliff. staff and speaker john boehner's office telling fox business the lines of communication open, but it's an empty house in washington. look at these pictures. house members on their long weekend break, and the senate is out until monday, but not before working out logistics for a big event. a private screening of steven spielberg's lincoln at the capital. now, harry reid using his time to take a special waiver to allow unbuttered popcorn in the auditorium. that's what passes for work these days. the president's holding another campaign style event as the middle class families, and with more, michael burgess of texas. congressman, great to have you object show again. >> great to be with you, thank you. gerri: everything's hanging in the banse, economy, middle class income, taxes, you name it, and you and your fellow house members are not going to work. >> well, wait, this is a 24-hour day job, seven days a week. i'm in new york tomorrow looking at the hospitals affected in hurricane sandy, and i feel like i need to do the ground work
toward another recession. without a deal u.s. gdp expected to take a serious hit. our unemployment rate expected to skyrocket, but even with the deal some say the u.s. economy may fall. i am joined now by an economics professor for the university of maryland. welcome back to the show. i know you get pulled on this all the time by different groups. what are you expecting out of the economy? what do you say? with the deal what happens to the economy? without a deal what happens? >> some kind of deal, the economy continues to grow very slowly. we are doing all this spending to prop up the economy because the fundamentals are right. all of the things the obama administration has done have been anti growth, whether energy policy, trade with china, reregulation of wall street. and now this, taxing all those jobs creators, all those small businesses. i don't know why you would want to invest in this country now. gerri: let me ask you this. the congressional budget office has out its numbers. if the fiscal cliff hits they say u.s. gdp would shrink by half a percentage point and that unemploymen
that much. if we are off for a month to, then i think that's a recession scenario for the u.s. economy because those cuts and tax increases could have a big effect. we figure about 3% of gdp is enough to push the economy into recession. a lot depends on how long we're off. gerri: you know what i wonder about, it is not just what is happening to taxes, and it is not just what is happening said amt and all of the other capital gains except representative. it is the fact that washington is broken. i think that makes a lot of decisions for business people out there. starting to make decisions like maybe a leave the country. maybe all scale back my business. maybe i've won't hire anybody. where is the net impact on american business? >> the story of the last three or four years among the weakest recovery we have ever seen is uncertainty, people not knowing what the future's going to hold, and this this book with is the ultimate uncertainty. i think we made tip into recession even if the fiscal cliff is a very short duration. what we have to do is recognize, we are all americans. we have to
a heated debate. with more than a million charities and the u.s. alone, how did you find the best one? we have you covered. "welcome to "the willis report." hello, everybody. i'm gerri willis. tonight no progress on the fiscal cliff as democrats and republicans trade barbs over the issue. one group of americans is finding a way through this regardless of congress and the president. small-business owners in this country are preparing to hire. join me now, chief u.s. economist for i may just pull one side. heart of america group founder, and member of the jobs creation alliance and actual job creators in this country who say their voices not being heard in this office took with debate. also with us from the weekly standard, steven haze. welcome. great to have you here. i want to start with the conversation in washington and what the speaker had to say about the status of the fiscal here is mr. boehner. >> this is in the progress report because there is no progress to report. when it comes to the fiscal cliff that is turning our economy and jobs, the white hhuse is wasted another week. gerri
in front of a judge. we will have a heated debate. with more than a million charities and the u.s. alone, how did you find the best one? we have you covered. "welcome to "the willis rport." hello, everybody. i'm gerri willis. tonight no progress on the fiscal cliff as democrats and republicans trade barbs over the issue. one group of americans is finding a way through this regardless of congress and the president. small-business owners in this countr are preparing to hire. join me now, chief u.s. economist for i may just pull one side. heart of america group founder, and member of the jobs creation alliance and actual job creators in this country who say their voices not being heard in this office took with debate. also with us from the weekly standard, steven haze. welcome. great to have you here. i want to start with the conversation in washington and what the speaker had to say about the status of the fiscal here is mr. boehner. >> this is in the progress report because there is no progress to report. when it comes to the fiscal cliff that is turning our economy and jobs, the white hh
of a judge. we will have a heated dbate. with more than a million charities and the u.s. alone, how did you find the best one? we have you covered. "welcome to "the willis report." hello, everybody. i'm gerri willis. tonight no progress on the fiscal cliff as democrats and republicans trade barbs over the issue. one group of americans is finding a way through this regardless of congress and the presiden small-business owners in this country are preparing to hire. join me now, chief u.s. economist for i may just pull one side. heart of america group founder, and member of the jobs creation alliance and actual job creators in this country who say their voices not being heard in this office took with debate. also with us from the weekly standard, steven haze. welcome. great to have you here. i want to start with the conversation in washington and what the speaker had to say about the status of the fiscal here is mr. boehner. >> this is in the progress report because there is no progress to report. when it comes to the fiscal cliff that is turning our economy and jobs, the white hhuse is wasted
in front of a judge. we will have a heated debate. with more than a million charits and the u.s. alone, how diyou find the best one? we have you covered. "welcome to "the willis report." hello, everybody. i'm gerri willis. tonight no progress on the fiscal cliff as democrats and republicans trade barbs over the issue. one group of americans is finding a way through this regardless of congress and the president. small-business owners in this country are preparing to hire. join me now, chief u.s. economist for i may just pll one side. heart of america group founder, and member of the jobs creation alliance and actual job creators in this country who say their voices not being heard inhis office took with debate. also with us from the weekly standard, stevn haze. welcome. great to have you here. i want to start with the conversation in washington and what t speaker had to say about the status of the fiscal here is mr. boehner. >> this is in the progress report because there is no progress to report. when it coms to the fiscal cliff that is turning our economy and jobs, the white hhuse is waste
economy? any or all of thisould have happened, but the story is a warning signal for politicians in the u.s. if you believe you could have financed contamination on the back of the wealthy, think again. it is not that eas. we need better operating of a fair tax system in which everyone has skin in the game rather than trying to find out where the money is. by the way, how much money do you think and slick willie get away with in 40 years of robbing banks? just $2 million. at thought it was more. that's what i think. now we want to know what you think. coming in the mail. gerri@foxbusiness.com. >> coming up on "the willis report," hurricane sandy slammed into the east coast over one month ago. why are victims still waiting on a? and what is fema doing with the cash? the president of ericsson insurance advisers ways in next. and guess which state the highest paid truper lives in? queue will not believe how much some are milking taxpayers. we will have the averages tails later. also, what has nine lines and six toes? find out why their government is cracking down on these level for balls. we a
. the only have 2 days separate in the u.s. for more than $500 billion in x hikes. while both sides say the lines of communicationre open. getting a deal to avert the fiscalliff, president made it ry clear he is holding the line on hiking taxes on the top 2% of earners. customizing a little bit with republicans. ining us, ter barnes. what exactly ihe willing to compromise on? >> on the big item, the big kahuna. increasingaxes on families earning more than $2,000 per year story leaving the door open to a compromise on higher tax rates, higher rates. when anas repea ask repeatedly s demanding thtop tes return to the clinton administration in and the top rate was 39.6, he does not say yes, have to have that to get a deal. but hes not backing f his demandrates up by some amount of wealthier falies so the buzz is he might settle or comprose forometng in between like 37%. there is speculation the prident might compromisen the cut off my degreand a higher threshold by 500,000 per year befe higher rates wouldld kick in. in a speech in detroit the presidt extended a little olive branch republan
will get you as soon as possible. if the u.s. falls off the fiscal cliff, we land in another recession? this is what everybody wants answered. steve, what could happen is they come to some lame compromise before the end of the year. they say next year we will do it in january. we might have a block of time what we don't know what is going on. during that chunk of time, the economy could see itself while precipitately very quickly. >> i would make the case that there is complete uncertainty. nobody knows what's going on. i think we have a little bit more clarity in the last couple of days. i've been spending a lot of time on capitol hill. the most likely outcome now is republicans are probably going to get higher tax rates on the rich with some nuances to that. republicans are now saying for the most part they are willing to allow spending cuts to go through. republicans have a lot of spending options. there is nothing president obama can do to stop that. not such a bad solution at this point. look, this is a business. look at what this has done in the last four years. they have tighten
would exacerbate rather than dinish the uncertainty of the fiscal policy and to the u.s. into an unavoidable and unnecessary recession. the u.s. could lose its aaa status. this is from fitchatings. wait until you see what we are going to have to spend for our debt if we lose the aaa status. because it will cost us more to float our bonds. what is being done right now? not to escalate the war of words, but to find some common ground. >> the houses focused opassing a tax policy. senate and have them respond. what is now a look at is the sequestration pice. the president refuses to deal with the side and we have to do this. last summer we were talking about the same issues were the bomb folks were saying that if there is not real spending reductns, if we don't get a plan, the automatic spending cuts kick in. the president is asking to turn those off, that sends a signal as well that we are not serious about reducing spending. this is the absolute worst way to reduce spending. it is the only optionthatwe have. gerri: thank you for coming on the show tonight. meanwhile, tensi
that essentially a nontarter in a republican-controlled house. now he is leaving it up to the two leaders in the u.s. senate try to reach a compromise. something perhaps along the line of what is being negotiated between the speaker and the president a couple of weeks ago. perhaps a tax increase for amounts of more than $400,000 or $500,000 per year. also, senate leaders want to include something on the estate tax, according to a white house official. we'll can also be key to this is that the white house officials are also telling fox news and ed henry that it appears as though the debt ceiling is not part of that. this is a huge nonstarter for republicans in the house. they want any dollar and increase of the debt ceiling to also involve a dollar in cuts over 10 years. if they don't have those corresponding cuts, it is unlikely that many of them will vote for an increase in the debt ceiling. removing them from the equation helps pave the way, at least for what will really be described as a stopgap proposal, one to avoid the full impact of the fiscal cliff. it will allow congress to again take anoth
he is leaving it up to the two leaders in the u.s. senate try to reach a compromise. something perhaps along the line of what is being negotiated between the speaker and the president a couple of weeks ago. perhaps a tax increase for amounts of more than $400,000 or $500,000 per year. also, senate leaders want to includsomething on the este tax, according to a white house official. we'll can also be key to this is that the white house officials are also telling fox news and ed henry that it appears as though the debt ceiling is not part of that. this is a huge nonstarter for republicans in the house. they want any dollar and increase of the debt ceiling to also invol a dollar in cuts over 10 years. if they don't have those corresponding cuts, it is unlikely that many of them will vote for an increase in the debt ceilin removing them from the equation helps pave the way, at least for what will really be described as a stopgap proposal, one to avoid the full impact of the fiscal cliff. it will allow congress to again take another crack at finding some way to deal with spending cu
again breaking news. we have been monitoring the situation all evening long. check u.s. futures as well as how trading taking place overseas. futures in the united states in positive territory. s&p as well as the dow could be down dramatically. let's day can a look at hong kong, the hang seng is actually down, here is what we'll know more of the outlook for the first quarter has for some time anticipated a significant slowdown in response to the fiscal drag and fiscal debate. we're not to alter the forecast. they sent a note to their clients. virtual standing by live on capitol hill to see if there is something coming out of washington, d.c. >> reporter: good evening. talks are continuing this evening between the vice president joe biden and mitch mcconnell. they were making some sense of progress there. this is after two stop soldiers, mitch mcconnell and harry reid failed to make much progress through tonight and this morning. harry reid went home earlier this yeeng and biden and mcconnell were taking point on the negotiations. they worked out a deal couple years ago for unemployment
leaders in the u.s.enate try to reach a compromise. something perhaps along the line of what is being negotiated between the speaker and the president couple of weeks ago. perhaps a tax increase for amounts of more than $400,000 or $500,000 per year. also, senate leaders want to include something on the estate tax, according to a white house official. we'll can also be key to this is that the white house officials are also telling fox news and ed henry that it appear as though the debt ceiling is not part of that. this is a huge nonstarter for republicans in the house. they want any dollar and increase of the debt ceiling to also involve a dollar in cuts over 10 years. if tey don't have those corresponding cuts, it is unlikely that many of them will vote for an increase in the debt ceiling. removing them from the equation helps pave the way, at least for what will really be described as a stopgap proposal, one to avoid the full impact of the fiscal cliff. it will allow congress to again take another crack at finding some way to deal with spending cuts and tax reform. gerri: stay with
leaders in the u.s. senate try to reach a compromise. something perhaps along the line ofwhat is being negotiated between the speaker and the president a couple of weeks ago. perhaps a tax increase for amounts of more than $400,000 or $500,000 per year. also, senate leaders want to include something on the estate tax, according to a white house official. we'll can also be key to this is that the white house officials are also telling fox news and ed henry that it appears as though the debt ceiling is not part of that. this is a huge nonstarter for republicans in the house. they want any dollar and increase of the debt ceiling to also involve a dollar in cuts over 10 years. if they don't have those corresponding cuts, it is unlikely that many of them will vote for an increase in the debt ceiling. removing them from the equation helps pave the way, at least for what will really be described as a stopgap proposal, one to avoid the full impact of the fiscal cliff. it will allow congress to again take another crack at finding some way to deal with spending cuts and tax reform. gerri: stay w
leaders in the u.s. senate try to reach a compromise. something perhaps along the line of what is being negotiated between the speaker and the president a couple of weeks ago. perhaps a tax increase for amounts of more than $400,000 or $500,000 per year. also, senate leaders want to include something on the estate tax, according to a white house official. we'll can also be key to this is that the white house officials are also telling fox news and ed henry that it appears as though the debt ceiling is not part of that. this is a huge nonstarter for republicans in the house. they want any dollar and increase of the debt ceiling to also involve a dollar in cuts over 10 years. if they don't have those corresponding cuts, it is unlikely that many of them will vote for an increase in the debt ceiling. removing them from the equation helps pave the way, at least for what will really be described as a stopgap proposal, one to avoid the full impact of the fiscal cliff. it will allow congress to again take another crack at finding some way to deal with spending cuts and tax reform. gerri: stay w
would exacerbate rather than diminish the uncertainty of the fiscal policy and to the u.s. into an unavoidable and unnecessary recession. the u.s. could lose its aaa status. this is from fitch ratings. wait until you see what we are going to have to spend for our debt if we lose the aaa status. because it will cost us more to float our bonds. what is being done right now? not to escalate the war of words, but to find some common ground. >> the houses focused on passing a tax policy. senate and have them respond. what is now a look at is the sequestration piece. the president refuses to deal with the side and we have to do this. last summer we were talking about the same issues were the bomb folks were saying that if there is not real spending reductions, if we don't get a plan, the automatic spending cuts kick in. the president is asking to turn those off, that sends a signal as well that we are not serious about reducing spending. this is the absolute worst way to reduce spending. it is the only option that we have. gerri: thank you for coming on the show tonight. meanwhi
to helping our military eurozone. i'm joined by executive vice president and chief of staff at the u.s. thank you for joining us. we wanted to a happy story in the charity area, and you are providinthat tonight. i know everyone has heard of the uso, but the adult think everyone knows exactly what you do. help us understand. >> it's great to be here tonight, and thank you for having a sign. a uso was founded over 70 years ago by franklin delano roosevelt with the expressed purpose of lifting the spirits of troops and families. now, while we tend to focus on our constituents, which is our 2 million military members and are several million family members, we focus on, to a large degree, for groups that need us most. at think everyone would recognize these. deployed troops, those that are serving in harm's way, taking caref and protecting the freedoms that we enjoyed elite. the second group that we take care of and focus on other families of the deployed and particularly those that have had to deal with multiple the bonds. we also focus on our wounded, el, and injured service members as well as f
by executive vice president and chief of staff at the u.s. thank you for joining us. we wanted to a happy story in the charity area,and you are providing that tonight. i know everyone has heard of the uso, but the adult think everyone knows exactly what you do. help us understand. >> it's great to be here tonight, and thank you for having a sign. a uso was founded over 70 years ago by franklin delano roosevelt with the expressed purpose of lifting the spirits of troops and families. now, while we tend to focus on our constituents, which is our 2 million military members and are several million family members, we focus on, to a large degree, for groups that need us most. at think everyone would recognize these. deployed troops, those that are serving in harm's way, taking care of and protecting the freedoms that we enjoyed elite. the second group that we take care of and focus on other families of the deployed and particularly those that have had to deal with multiple the bonds. we also focus on our wounded, el, and injured service members as well as families of the fallen. those are the people
have 21 days separate in the u.s. for more than $500 billion in tax hikes. while both sides say the lines of communication are open. getting a deal to avert the fiscal cliff, president made it very clear he is holding the line on hiking taxes on the top 2% of earners. customizing a little bit with republicans. joining us, peter barnes. what exactly is he willing to compromise on? >> on the big item, the big kahuna. increasing taxes on families earning more than $250,000 per year history leaving the door open to a compromise on higher tax rates, higher rates. when anas repea asked repeatedls demanding the top rates return to the clinton administration in and the top rate was 39.6, he does not say yes, have to have that to get a deal. but he is not backing off his demands rates go up by some amount of wealthier families so the buzz is he might settle or compromise for something in between like 37%. there is speculation the president might compromise on the cut off my degree and a higher threshold by 500,000 per year before higher rates would kick in. in a speech in detroit the pre
of this could have happened, but the story is a warning signal for politicians in the u.s. if you believe you could have financed contamination on the back of the wealthy, think again. it is not that easy. we need better operating of a fair tax system in which everyone has skin in the game rather than trying to find out where the money is. by the way, how much money do you think and slick willie get away with in 40 years of robbing banks? just $2 million. at thought it was more. that's what i think. now we want to know what you think. coming in the mail. gerri@foxbusiness.com. >> coming up on "the willis report," hurricane sandy slammed into the east coast over one month ago. why are victims still waiting on a? and what is fema doing with the cash? the president of ericsson insurance advisers ways in next. and guess which state the highest paid trouper lives in? queue will not believe how much some are milking taxpayers. we will have the averages details later. also, what has nine lines and six toes? find out why their government is cracking down on these level for balls. we are on the case n
vice president d chief of staff at the u.s. thank yo for joining us. we wanted to a happy story in the charity area, and you are providing that tonight. i know everyone has heard of the uso, but the adult think everyone knows exactly what you do. help us understand. >> it's great to b here tonight, and thank you for having a sign. a uso was founded over 70 years ago by franklin delano roosevelt with the expressed purpose of lifting the spirits of troops and families. now, while we tend to focus on our constituents, which is our 2 million military members and are several million family members, we focus on, to a large degree, for groups that need us most. at think everyone would recoize these. deployed troops,hose that are serving in harm'sway, taking care of and protecting the freedoms that we enjoyed elite. the second group that we take care of and focus on other families of the deployed and particularly those that have had to deal with multiple the bonds. we also focus on our wounded, el, and injured service members as well as families of the fallen. those are the people we we
iefs of staff told me i need to restore and can position hielf as sort of the potector of u.s. national security. so there are some clear centives to the president to lead the country over the fiscal cliff. do i think that's what he wants? probably not, but do i think there arincentives for him to do it temecula. gerri: never looked at it tht way. as you lot this debate on going, there are a lot of folks who say we will be flirting with recession or in recession if we do go over the cliff. do you agree? >> that happens only if we go off the cliff and stay off for an extended amount of time. to we don't go into recession just because we don't have a resolution on january the first. it's a question of wheth we have no resolution at that time but it seems that it's likely to a come within a short time. the longer we go into january with no resolution the more likely that we do go off the cliff into recession. gerri: the broader concern is if we confined in the ground. great to have you on the show. only moments a i was speaking to a fellow whose business is buying and selling small busines
will be the only african american in the u.s. senate. the but, spent from south carolina elected to succeed jim demint. here to weigh in from the weekly standard. what do you make of this? it is fascinating to me that the only black senator would be a very conservative tea party candidate. >> the irony given all of the hammer and we have seen at the 2012 election about the lack of diversity amongst republicans and what have you is if you look across the republican party and people likely to be leaders in the politics 10, 15 years from now, many republicans of a variety of ethnic and racial backgrounds were most likely to be the leaders whether it is tim scott or marco rubio, brian sandoval, these are people who are widely looked at bipartisan fashion. with that as for the coleaders in america. they're all republicans. gerri: it is really fascinating. this to say about the selection. >> while i get this minority female, that is what everybody wants to talk about, i want to remind everybody he earned this for the person he is, he earned proven and he will continue to earn it for the leadershileaders
. china's top newspaper, giving the u.s. a time lashing over the fiscal cliff. the people's daily. did you ever read that one? they blasted our congress threatened to unleash what they called a self-created recession hurt the world economy. the paper went on to school lawmakers here saying that the u.s. should act like a responsible power. oh, boy. of course, china's interest is purely self-interest here. the last thing he needs it needs is a slowdown in consumer spending. after all, where would the chinese a their economy be if it weren't for america? that's right. a lot more to come during this hour. what this tax fairness mean? i will break down th numbers. folks like warren buffett don't want to talk about this. and aaa and unusual warning about a blend of gasoline. the federal government wants you to start using the gas. but will it damage your gerri: look, i am no expert on media bias, but the media solving the fiscal cliff. the huffington post reporting that the offer to avert disaster sparks gop outrage. "the new york times", the front page story today that the tax code is less pro
signal for politicians in the u.s. if you believe you can finance the entiement nation on e backs of the wealthy, well, think again. better of creaeating a fair tax system in which everybody has some skin in the game rather than trying to find where the money is. by the way, do you know how much money slick willie get away with in 40 years of rbing banks? just$2 million. that's what i think. now we want to know what you think. coming in e-mail. gerri@foxbusiness.com. >> coming up on "the willis report," outrage in staten island as a mb was broken promises and government bureaucracy has stifled the recovery. as a source of lost everything they work for an disgusting than big time. we get to the bottom of t. and then nfl nightmare, murd-suicide tragedy exposing huge problems within one of the biggest industri in the country. football legend ricky watters is 50 of the cystic. also, lumps of coal for america's hottest company. we are o the case next on "the willis report." gerri: been morehan a month since hurricane sandy ravaged the east coast. new york governor andrew cuomo seeking
to helping our military eurozone. i'm joinedby executive vice president and chief of staff at the u.s. thank you for joining us. we wanted to a happy story in the charity area, and you are providing that tonight. i know everyone has heard of the uso, but the adult think everyone knows exactly what you do. help us understand. >> it's great to be here tonight, and thank you for having a sign. a uso was founded over 70 years ago by franklin delano roosevelt with the expressed purpose of lifting the spirits of troops and families. now, while we tend to f focus on our constituents, which is our 2 million military members and are several million family members, we focus on, to a large degree, for groups that need us most. at think everyone would recognize these. deployed troops, those that are serving in harm's way, taking care of and protecting the freedoms that we enjoyed elite. the second group that we take care of and focus on other families of the deployed and particularly those that have had to deal with multiple the bonds. we also focus on our wounded, el, and injured service members as wel
. accounting for 5% of u.s. gdp. if not for you guys were with this all come from? >> well, the fact is that the charitable does not get all this money for individuals. it's about 12% of its money from the private sector. it raises fees for service and get government funding as well. a combination of what they did. what worries us about this charitable deduction is that people are thinking that this is about rich people. it's not about rich people. that is a wonderful tradition in america. almost a hundred years ago congress decided and his wisdom that they went to encourage rebel to give more. they stimulate giving by creating a charitable deduction. it works. i will be stop making it work? >> stacey, to you. we also have some facts about what this will actually cost. if there were no churl deductions the cost of cherries would be some 7 billion per year the expectation that annual giving would drop by 36 percent. what would this cause the american society? talk to me about the services, the work that would not get done . >> well, you have to understand that if there is a cap at 28%
is another topic. a different topic. china's top newspaper, giving the u.s. a time lashing over the fiscal cliff. the people's daily. did you ever read that one? they blasted our congress threatened to unleash what th called a self-created recession hurt the world economy. the paper went on to school lawmakers here saying that the u.s. should act like a responsible power. oh, boy. of course, china's interest is purely self-interest here. the last thing he needs it needs is a slowdown in consumer spending. after all, where wld the chinese and their economy be if it weren't for america? that's right. a lot more to come during this hour. what this tax fairness mean? i will break down the numbers. folks like warren buffett don't want to talk about this. and aaa and unusual warning about a blend of gasoline. the federal government wants you to start using the gas. to start using the gas. but will it damage your twins. i didn't see them coming. i have obligations. cute obligations, but obligatio. i need to rethink the core of my portfolio. what i really need is sleep. introducing the ishares cor
: thank you so much. here is another topic. a different topic. china's top newspaper, giving the u.s. a time lashing over the fiscal cliff. the people's daily. did you ever read that one? they blasted our congress threatened to unleash what they called a self-created recession hurt the world economy. the paper went on to school lawmakers here saying that the u.s. should act like a responsible power. oh, boy. of crse, china's interest is purely self-interest here. the last thing he needs it needs is a slowdown in consumer spending. after all, where would the chinese and their economy e if it weren't for america? that's right. a lot more to come during this hour. what this tax fairness mean? i will break down the numbers. folks like warren buffett don't want to talk about this. and aaa and unusual warning about a blend of gasoline. the federal government wants you to start using the gas. to start using the gas. but will it damage your can i help you? i heard you guys can ship ground for less than the ups store. that's right. i've learned the only way to get a holiday deal is to camp ou
newspaper, giving the u.s. a time lashing over the fiscal cliff. the people's daily. did you ever read that one? they blasted our congress threatened to unleash what they called a self-created recession hurt the world economy. the paper went on to school lawmakers here saying that the u.s. should act a responsible power. oh, boy. of course, china's interest is purely self-interest here. the last thing he needs it needs is a slowdown in consumer spending. after all, where would the chinese and their economy be if it weren't for america? that's right. a lot more to come during this hour. what this tax fairness mean? i will break down the numbers. folks like warren buffett don't want to talk about this. and aaa and unusual warning about a blend of gasoline. the federal government wants you to start using the gas. to start using the gas. but will it damage your you know how painful heartburn can be. for fast, long lastinrelief, use doctor recommended gaviscon®. only gaviscon® forms a protective barrier that helps block stomach acid from splashing up- relieving the pain quickly. try fast
signal for politicians in the u.s. if you believe you can finance the entitlement nation on the backs of the wealthy, well, think again. better of creating a fair tax system in which everybody has some skin in the game rather than trying to find where the money is. by the way, do you know how much money slick willie get away with in 40 years of robbing banks? just $2 million. that's what i think. now we want to know what you think. coming in e-mail. gerri@foxbusiness.com. >> coming up on "the willis report," outrage in staten island as a bomb was broken promises and government bureaucracy has stifled the recovery. as a source of lost everything they work for an disgusting than big time. we get to the bottom of it. and then nfl nightmare, murder-suicide tragedy exposing huge problems within one of the biggest industries in the country. football legend ricky watters is 50 of the cystic. also, lumps of coal for america's hottest company. we are on the case next on "the willis report." want to try to crack it? yeah, that's the way to do it! now we need a little bit more... [ male announce
trillion annually. accnting for5% of u.s. gdp. if not for you guys were wi thisll come from? >> well, the fact is ttat e charitable does not get allthis money for individuals. the private sector.t moneyom itraises fees for service and get government funding as well. a combination of what they did. what worri us about this charitable deuction is tt people are thinking that this is about rich people. it not about rich people. that is wonderful tradition in america. almost a hundredears ag congress decided and his wisdom that they went t encourage rebeto give more. they stimulae iving by creating acharitable deduction. it works. i will be stop making it work? >> stacey, to ou. we also have some facts about what this will acally cost. if there were no churl ductions the cost of chries would be some 7 billion per year the expectation that annual giving would drop by 36 percent. what would tis cause the american society? talk to me about the services, the work that would not get done . well, you have to nderstand that if there is a cap at 28%, you're right, we estimate that could cause a
? >> to understand the regular admission is filled with students from the u.s. and abroad, much mor competitive so if they can get their stuff in early, they have done the research i finished their testing they will apply early because the chances of getting in a slightly higher in the early rounds. gerri: or numbers show more and more kids arerying to do this, give us an idea of the trend. >> we have not tracked the number of students who applied early. it is accepted by 480 at colleges nationwide. you have supplements to fill out, but what we he actually contacted individual colges and what we have seen is huge numbers in the early rounds, so 40%, university of virginia and chicago are up 19% eac northwestern, miami university in ohio reporting record numbers. gerri: is that why they're seen such big increases because these are really greatschools. >> both public and private schools are seeing an ireasee we are seeing more kids are being deferred as well because they'rtrying to figure out eir classes for this kind of a predictor of what is going to happen. rri: if you applied early and are denie
weeks before u.s. falls off the fiscal cliff, speaker john bain ser slamming the brakes on any hopes a deal is coming soon, making it clear both sides have differences. second in command, eric cantor warning members n to make any plan for holidays, and kevin brady of texas, vice chairman of joint economic committee, thank you, are we still that far apart? >> you know we are. i started optimistic to get this done before the holidays, but, i don't feel that way, it seems to me the decision has been made, perhaps by white house to take us off this fiscal cliff. i think this is irresponsible to do it we're ready to work out a reasonable sound solution but i do not see that coming from the other side right now. tracy: is it because there is so much going on behind scenes. they think there is a lot of secret wheeling and dealing with john boehner and the president do you agree? >> i do not, i think he -- they have been sporadic talks, i know speaker boehner has been frustrated with how slow the responses have been. again, you know, not just tax rates it is authentic spending cuts, if we do
financial track record. per capita income at 25,000 below the u.s. average. detroit employment is 18%, almost 19%. does the city council -- does the city management have it under control? have you guys just lost control? >> we certainly have it lost control. we have it under control. but we have our issues. but we are not falling off into the detroit river. the community is doing well. the business community, the corporate community and the city of detroit. we don't have any vacancies for new young people that are trying to move into the downtown area. certainly municipal governance is broken. we have to become a better partner with our business community to fix some of the ills of detroit. but we know what the solutions are. we know what the problems are. we have, as political leaders, the political will to make the tough decisions to write the financial ship and become a better partner to help the corporate business community of detroit. gerri: if you are doing such a good job, why have you lost 25% of your population over the past decade? i will repeat that because i know you have
just a terrible financial track record. per capita income at 25,000 below the u.s. average. detroit employment is 18%, almost 19%. does the city council -- does the city management have it under control? have you guys just lost control? >> we certainly have it lost control. we have it under control. but we have our issues. but we are not falling off into the detroit river. the community is doing well. the business community, the corporate community and the city of detroit. we don't have any vacancie for new young people that are trying to move into the downtown area. certainly municipal governance is broken. we have to become a better partner with our business community to fix some of the ills of detroit. but we know what the solutions are. we know what the problems are. we have, as political leaders, the political will to make the tough decisions to write the financial ship and become a betterpartner to help the corporate business community of detroit. gerri: if you are doing such a good job, why have you lost 25% of your population over the past decade? i will repeat that because
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